O.k. trustees never make nothing straigtforward and easy do they?
Well, not very good news. Trying to buyout my BK13. So I found a loan and got a GFE. House appraised high @ $493K. Sounds good, huh? So, $50K cash-out would be no sweat, right? I filed motion to incur new debt and got court date for hearing set for 08/24. Now trustee wants to see appraisal to see if settlement was fair. This is not right. I am in a confirmed Chp13. I owe $46K @ $660/mo for next 60mos. She should not be able to modify the payoff amount base on new appraisal which is 1) probably somewhat inflated, 2) not showing true market price due to housing slump 3), the house appraised at $450 3mos ago, and this is the appraisal I used in court to get CHp13 confirmed. This is what the payoff should be base on, not new appraisal...
Not sure of my next move...any advice?
thnx,
Well, not very good news. Trying to buyout my BK13. So I found a loan and got a GFE. House appraised high @ $493K. Sounds good, huh? So, $50K cash-out would be no sweat, right? I filed motion to incur new debt and got court date for hearing set for 08/24. Now trustee wants to see appraisal to see if settlement was fair. This is not right. I am in a confirmed Chp13. I owe $46K @ $660/mo for next 60mos. She should not be able to modify the payoff amount base on new appraisal which is 1) probably somewhat inflated, 2) not showing true market price due to housing slump 3), the house appraised at $450 3mos ago, and this is the appraisal I used in court to get CHp13 confirmed. This is what the payoff should be base on, not new appraisal...
Not sure of my next move...any advice?
thnx,
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